Zijin News - On October 18th, a meeting was held at Zijin Mining to discuss its zinc business and to set out priorities in the field. It was concluded that Zijin must take effective measures to meet its annual production goals while zinc prices are rising.
Zijin Mining is the largest zinc producer in China, with a strong edge in the development of low-grade zinc ore. Its core zinc mines that are in production include the Wulagen Lead-Zinc Mine in Xinjiang, the Miaogou-Sanguikou Lead-Zinc Mine in Inner Mongolia, the Kyzyl-Tash Turk Zinc Polymetallic Mine in Tuva of Russia, and the Bisha Zinc-Copper Mine in Eritrea. Zijin also operates two zinc smelters.
Zijin’s zinc resources exceed 10 million tonnes. The group produced 340,000 tonnes of mined zinc in 2020. In the first three quarters of 2021, it produced 290,000 tonnes of mined zinc (up 17% YOY), and 230,000 tonnes of refined zinc (up 49% YOY). Zinc now accounts for 9% of the group’s total assets and contributes 4.5% to its revenue.
Chairman Chen Jinghe laid out the following requirements for the development of the group’s zinc business:
l Increase high-quality resource reserves and expand its room for development, in line with the group’s strategies;
l Continue to overhaul facilities, to unleash production capacity while the market is booming, and to become more resistant to risks;
l Boost overall profitability by coordinating the activities of projects in China and overseas, as well as those of upstream and downstream operations; and
l Operate in compliance with laws and regulations, deliver good HSE performance, and carry out ecological restoration at project sites.